My budget is probably no more than 375K, but am open to 1Br's as well.  

Whether that be starting the side hustle of real estate investing, or finding a new job, but, personally, I would not suggest you leave a well paying job until you have started down the path of real estate investing on the side.

The project went so well my friend went 50/50 on a second multi-family in Berwyn a block from the Metra.

So i was looking for people that know the area well and that have invested in the area to give any advise on the good areas and the bad ones, rental prices, type of tenants in this area you name it....everything and any advice would be very appreciated!!!!

In my expierence that is all going to need to start with a well crafted chart of accounts. 

Well, I guess actually reading the Due on Sale clause is in order: :-)"18.

The current rents are well below the medium for the area.

As @Charles Carillo said, you can make the most of that time, but most people just waste the 4-5 years and then end up doing something unrelated to their degree field anyway.Maybe look into a Trade School, like an electrical one....nice clean work that pays really well.

It almost never ends well. 

Ive spoken to PM's down there as well as Clayton himself.